Joint (NASDAQ:JYNT) Rating Lowered to “Buy” at Wall Street Zen

Joint (NASDAQ:JYNT) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

A number of other research firms also recently issued reports on JYNT. Weiss Ratings upgraded shares of Joint from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. Zacks Research upgraded shares of Joint from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $18.00.

Joint Trading Up 0.7%

JYNT stock opened at $8.29 on Friday. The stock’s 50 day simple moving average is $8.75 and its 200 day simple moving average is $8.88. Joint has a 12-month low of $7.50 and a 12-month high of $13.00. The firm has a market cap of $118.22 million, a P/E ratio of 36.04 and a beta of 1.12.

Joint (NASDAQ:JYNT) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.05. Joint had a net margin of 5.72% and a return on equity of 7.00%. The firm had revenue of $14.82 million during the quarter, compared to the consensus estimate of $14.50 million. On average, research analysts forecast that Joint will post 0.51 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Charles E. Jobson bought 127,676 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were purchased at an average cost of $8.57 per share, with a total value of $1,094,183.32. Following the completion of the transaction, the insider directly owned 1,773,479 shares of the company’s stock, valued at approximately $15,198,715.03. This represents a 7.76% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 30.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Joint

Institutional investors have recently modified their holdings of the company. JCP Investment Management LLC bought a new stake in Joint in the 2nd quarter valued at about $5,526,000. Clayton Partners LLC bought a new position in Joint in the 4th quarter worth about $1,652,000. Russell Investments Group Ltd. raised its holdings in shares of Joint by 77.3% during the fourth quarter. Russell Investments Group Ltd. now owns 205,411 shares of the company’s stock valued at $1,791,000 after buying an additional 89,526 shares during the last quarter. First Foundation Advisors increased its position in Joint by 47.8% in the 3rd quarter. First Foundation Advisors now owns 273,759 shares of the company’s stock valued at $2,612,000 after acquiring an additional 88,486 shares during the period. Finally, Squarepoint Ops LLC bought a new stake in Joint during the 4th quarter valued at $766,000. Institutional investors own 76.88% of the company’s stock.

About Joint

The Joint Chiropractic, Inc, doing business as Joint (NASDAQ: JYNT), is a franchisor and operator of outpatient chiropractic clinics in the United States. Under its flagship The Joint Chiropractic brand, the company offers membership-based, cash-focused spinal adjustment services designed to promote accessible, routine care for neck and back discomfort. By removing insurance requirements and offering walk-in visits, Joint aims to streamline the patient experience and reduce cost barriers to ongoing chiropractic treatment.

Joint’s growth strategy centers on partnering with franchisees to expand its network of clinics.